Shares of Vikas Ecotech gained more than 2 percent intraday Monday as company is going to set up India's first 2-Ethylhexyl thioglycolate (2-EHTG) manufacturing plant at Dahej, Gujarat.
Specialty chemical, 2-EHTG is the key raw material in manufacturing of Organotins – a lead free and non-toxic PVC heat stabilizer. The company is setting up an exclusive captive facility for the production of 2-EHTG at Dahej in the state of Gujarat, company said in release.
The project will be set up at a cost of INR 350 million and shall be completed over a period of 12 months.
The facility will have a production capacity of 3,600 MT per annum with 80% captive use.
At 13:57 hrs Vikas Ecotech was quoting at Rs 24.30, up Rs 0.05, or 0.21 percent on the BSE.
The share touched its 52-week high Rs 48.50 and 52-week low Rs 18.50 on 04 January, 2018 and 11 August, 2017, respectively.
Currently, it is trading 49.9 percent below its 52-week high and 31.35 percent above its 52-week low.
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